Today, Canadian pipeline company TC Energy Corporation announced it is open to receive proposals of potential contract and/or investment opportunities in wind energy projects. In fact, this announcement is to meet the electricity needs for a portion of the Company’s pipeline assets along its US corridor.
Moreover, TC Energy is opening this process by issuing a Request for Information (RFI). Furthermore, the Company is looking for opportunities that could generate up to 2,500,000 megawatt-hours per year or 620 megawatts of zero-carbon energy.
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TC Energy to power portion of its US pipeline corridor with wind power
Today, pipeline company TC Energy announced it would receive proposals of potential contract and/or investment opportunities in wind energy projects. Thus, the Company is looking to power a portion of its pipeline assets along the US corridor with zero-carbon energy.
Additionally, the Company announced it is carrying on this process by issuing a Request for Information (RFI). Moreover, TC Energy aims to power its pipeline corridor with up to 2,500,000 MWh per year of clean energy (wind).
In fact, Marathon Capital issued the RFI on behalf of the Company. Notably, this is non-binding and does not commit the Canadian firm to any further action if the indicative terms are unsatisfactory.
Regarding the selection process and timing, the RFI is open from April 12 to May 10, 2021. Besides, it and will be issued to approximately 100 renewable development companies to identify suitable wind energy projects.
Moreover, TC Energy will assess opportunities across the Southwest Power Pool (SPP), Midwest Independent System Operator (MISO); and Electric Reliability Council of Texas (ERCOT) power regions.
Later on, RFI responses will be reviewed, and a shortlist of parties will be invited to a request for proposal (RFP) process. Accordingly, along this step, the Canadian major will conduct detailed due diligence of the projects. In fact, all participants must direct their inquiries through Marathon.
In this sense, Corey Hessen, TC Energy Senior Vice-President and President, Power, and Storage; said the RFI is an essential step in advancing the Company’s plans to leverage its Power business as a platform for future growth and diversification. Indeed, the Company currently has interests in seven power generation facilities in four Canadian geographies. Moreover, all of these have a combined capacity of approximately 4,200 megawatts; which is enough to power more than four million homes.
“We are exploring opportunities to electrify and use renewable energy to power certain proprietary energy loads,” said Hessen. Thus, “ultimately, our goal is to leverage our existing asset base to add more renewable generation into our portfolio and the broader market. Hence, resulting in a net reduction of emissions across our North American footprint.”